Alphabet’s (GOOGL.O), opens new tab early bet on SpaceX (SPCX.O), opens new tab has multiplied more than 100-fold, with the Google parent disclosing a stake worth about $94 billion at the end of June, up from a $900 million investment in Elon Musk’s rocket company in 2015.
Alphabet has emerged as by far the largest single institutional holder of SpaceX following its $86 billion initial public offering in June, according to a Reuters analysis of publicly available quarterly filings.
Other investors to unveil their holdings after the IPO include early backer Fidelity Investments, Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, and Hancock Prospecting, the holding company controlled by Australian mining mogul Gina Rinehart.
The filings shed light on the scale of positions acquired by SpaceX’s backers as the company transitioned from a closely held startup to a publicly traded giant. Together with separate public disclosures on early investments, including Alphabet’s, they also highlight how dramatically the value of some early investments in SpaceX has grown.